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The consumer price index (CPI) is the official measure of inflation in South Africa. One variant, the consumer price index excluding mortgage costs (CPIX), is officially targeted by the South African Reserve Bank [1] and a primary measure that determines national interest rates.
While most countries saw a rise in their annual inflation rate during 2021 and 2022, some of the highest rates of increase have been in Europe, Brazil, Turkey and the United States. [ 120 ] [ 121 ] By June 2022, nearly half of Eurozone countries had double-digit inflation, and the region reached an average inflation rate of 8.6%, the highest ...
In 2021–2022, most countries experienced a considerable increase in inflation, peaking in 2022 and declining in 2023. The causes are believed to be a mixture of demand and supply shocks, whereas inflation expectations generally seem to remain anchored (as per May 2023). [ 100 ]
South African inflation surged to a 13-year high in June, data showed on Wednesday, moving further away from the central bank's target the day before an interest rate announcement. Headline ...
10 March – Acting Chief Justice Raymond Zondo is appointed Chief Justice of South Africa with effect from 1 April 2022. 16 March – President Cyril Ramaphosa recognised Prince Misuzulu Zulu as the King of AmaZulu nation in South Africa after a long court battle. [5] 19 March – Dr Esther Mahlangu was attacked at her homestead. The attacker ...
The shelter index increased 8.2% over the last year, accounting for over 60% of the total increase in core inflation. U.S. stocks edged higher following the release of the data. Treasury yields ...
In June 2022, the state legislature approved a plan to distribute $1 billion to residents in the form of a one-time tax rebate. However, the original deadline for those payments was Dec. 31, 2022.
21 October- The 2021 South African metalworkers strike ends, with workers represented by the National Union of Metalworkers of South Africa winning a 5-6% annual pay increase 22 October - Following a high-profile trial ex-police officer Nomia Rosemary Ndlovu is convicted of murdering five relatives and her boyfriend over several years.